Accounting Firms – Tennessee
Accounting firms in Alabama offer an array of services, including personal and business tax assistance, audits, budgeting, estate planning and more. Here are some of the Tennessee cities in our directory: accounting firms in Knoxville, CPA firms in Chattanooga and tax accountants in Memphis.
Tennessee’s small businesses are key to the state’s well-being. They account for a significant share of the state’s economic production and hiring. This profile from the Office of Advocacy uses the latest available data to illustrate the status and contributions of Tennessee small businesses. (Note that a small business is defined as one with fewer than 500 employees.)
• Small businesses totaled 552,653 in the state in 2008. Of these, 99,339 were employers, and they accounted for 45.0% of private-sector jobs in the state. Small firms made up 97.0% of the state’s employers.
• Tennessee’s real gross state product increased by 0.5% and private-sector employment decreased by 6.8% in 2009. By comparison, real GDP in the United States grew 0.7% and private- sector employment declined by 5.5%.
• Business ownership is becoming more inclusive in the state. The number of both women and minority business owners has grown. In particular, minority-owned businesses numbered 68,401 in 2007, a 65.7% increase over 2002.
• The state’s small business employment has undergone major shifts in recent years.
• Thestate’sbusinessesshowedsignsof stability and improvement in the fourth quarter of 2009 compared to the first quarter.
Source: U.S. Small Business Administration, Office of Advocacy